Transportadora de Gas del Sur SA B (TGSU2) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Transportadora de Gas del Sur SA B ARS 9,719, price ARS 8,835, upside +10.0%, quality 53 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 145.70 ARS – 10,320 ARS · fair‑value band 4,702 ARS – 14,864 ARS · the 8,835 ARS price screens below the 9,719 ARS fair value. Dashed = 300-day average. As of Sep 24, 2026.
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Transportadora de Gas del Sur S.A. engages in transportation of natural gas, and production and commercialization of natural gas liquids in Argentina and internationally. The company operates through four segments: Natural Gas Transportation Services; Liquids Production and Commercialization; Midstream; and Telecommunications.
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Transportadora de Gas del Sur S.A. engages in transportation of natural gas, and production and commercialization of natural gas liquids in Argentina and internationally. The company operates through four segments: Natural Gas Transportation Services; Liquids Production and Commercialization; Midstream; and Telecommunications. The Natural Gas Transportation segment transports natural gas through pipeline system to distribution companies, power plants, and industrial customers. It provides operation and maintenance services for the natural gas transportation facilities. The Liquids Production and Commercialization segment produces and commercializes natural gas liquids, such as ethane, liquid petroleum gas, natural gasoline, propane, and butane. This segment offers certain related services comprising reception, storage, and dispatch of the liquids. The Midstream segment provides natural gas conditioning services; treatment, removal of impurities and natural gas compression, including the collection and transport of natural gas; and inspection and maintenance of pipelines and compressor plants services. In addition, this segment offers steam generation for electricity production and management services for expansion works and steam generation for the production of electricity. The Telecommunications segment offers data transmission services through a network of digital terrestrial radio relay. It serves residential, commercial, industrial, and electric power generation end users. The company was incorporated in 1992 and is headquartered in Buenos Aires, Argentina. Transportadora de Gas del Sur S.A. operates as a subsidiary of Compañía de Inversiones de Energía S.A.
Stock analysis
Transportadora de Gas del Sur SA B (TGSU2) currently trades at 8,835 ARS, while our model-based Fair Value estimate is 9,719 ARS, implying the stock looks roughly 9.1% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 22,934 ARS per share, and 13 of the 24 models we run sit above the 8,835 ARS price.
Bear case: the Asset-Based group reads lowest at 2,784 ARS, and 11 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: 4,702 ARS (bear) to 14,864 ARS (bull), the price of 8,835 ARS sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 53/100 (solid quality), in the Energy sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Transportadora de Gas del Sur SA B reported revenue of 1.7T ARS in FY2025 versus 89.0B ARS in FY2021, a compound +109.3%/yr. Reported net income was 421B ARS in FY2025, compounding +111.8%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 6.7T ARS (≈ $4.7B) · P/E ratio 13.8 · P/S ratio 3.41 · EPS (TTM) 689.15 ARS · Dividend yield 3.2% · Net margin 24.7% · Return on equity 16.0% · Return on assets (EBIT) 20.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 14% below its 52-week high and 40% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Energy peers we cover trades at −21% fair-value upside, at 10%, TGSU2 screens cheaper than that median.
Fair Value models
Bear 4,702 ARSFair Value 9,719 ARSBull 14,864 ARS
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (504.12 ARS per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+7.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+16.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+98.1%
Start year 2020 (pandemic). Over 10 years: +82.2% a year
Revenue growth 10 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+82.2%
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What shareholders gained per year (last 3 years), in ARS (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in ARS: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+39.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+36.1%
Dividend (yield on the price)3.2%
Profit margin 2019 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.41% → 45%
2025 sits 92% above its own trend. The rate follows the median trend of the last 3 years, not that single year.
Growth Forecast
A lot of optimism in the price
The price assumes less growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+39.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+8.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (Argentina: IMF forecast 13.8% a year to 2030) that is about +22.7% a year for the price and −5.0% for the forecasts.
Compare Transportadora de Gas del Sur SA B with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Oil & Gas Integrated · 52 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score53 · Below median
Fair Value upside+10% · Top 25%
Profitability
Return on equity (TTM)16% · Top 25%
Return on assets10% · Top 25%
Net margin (TTM)28% · Top 25%
Operating margin (TTM)41% · Top 25%
Growth and dividend
Revenue growth15% · Top 25%
Dividend yield (TTM)3.2% · Below median
Balance sheet
Debt / equity0.47× · Above median
Valuation Multiplesvs Oil & Gas Integrated median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Transportadora de Gas del Sur SA B Fair Value". https://www.fairvalue-calculator.com/stock/TGSU2
Frequently asked questions
Is Transportadora de Gas del Sur SA B (TGSU2) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 9,719 ARS versus a price of 8,835 ARS, about +10% upside (undervalued).
What is the fair value of TGSU2?
Our model-based fair value for Transportadora de Gas del Sur SA B is 9,719 ARS (as of Sep 24, 2026), built from audited fundamentals. The current price: 8,835 ARS.
What is the quality score of TGSU2?
Transportadora de Gas del Sur SA B has a Quality Score of 53/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Transportadora de Gas del Sur SA B (TGSU2)?
Our model-based price target is the fair value of 9,719 ARS (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 4,702 ARS, optimistic scenario 14,864 ARS. It is a calculation from audited fundamentals, not an analyst target.
What is the Transportadora de Gas del Sur SA B stock forecast for 2026?
Our models put fair value at 9,719 ARS, about +10% upside versus a price of 8,835 ARS (undervalued). Cautious scenario 4,702 ARS, optimistic scenario 14,864 ARS. The calculation is refreshed regularly with new filings.
What is the revenue of Transportadora de Gas del Sur SA B (TGSU2)?
Transportadora de Gas del Sur SA B reported trailing-twelve-month revenue of about 1.9T ARS (latest available figure, as of Sep 24, 2026).
Does Transportadora de Gas del Sur SA B pay a dividend?
Transportadora de Gas del Sur SA B currently shows a dividend yield of about 3.23% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Transportadora de Gas del Sur SA B (TGSU2)?
For today's price to be fair in a discounted-cash-flow model, Transportadora de Gas del Sur SA B would have to grow free cash flow by +39.7 % per year for five years (discount rate 19.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +98.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of TGSU2 use?
Our models discount Transportadora de Gas del Sur SA B at 19.2 %: a base by market capitalisation (mid), country premium for Argentina. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Transportadora de Gas del Sur SA B that is +39.7 % per year a year over ten years, using the same discount rate (19.2 %) and the same formula as our fair value.
How much growth has Transportadora de Gas del Sur SA B (TGSU2) delivered so far?
Over the past 5 years revenue at Transportadora de Gas del Sur SA B grew +98.1 % a year. The price currently implies +39.7 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Transportadora de Gas del Sur SA B (TGSU2) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Transportadora de Gas del Sur SA B (+39.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Transportadora de Gas del Sur SA B (TGSU2)?
The free-cash-flow yield on the price is 3.48 %: that much free cash flow Transportadora de Gas del Sur SA B produces per unit of market value. When it exceeds the discount rate of our models (19.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Transportadora de Gas del Sur SA B (TGSU2)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Transportadora de Gas del Sur SA B it is 9,719 ARS per share (as of Sep 24, 2026), against a price of 8,835 ARS. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Transportadora de Gas del Sur SA B stock overvalued or undervalued in 2026?
As of Sep 24, 2026, TGSU2 trades below its calculated fair value: price 8,835 ARS, fair value 9,719 ARS, a gap of about +10% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TGSU2?
No. The price is what the market pays today (8,835 ARS); the fair value is what the company's own numbers justify (9,719 ARS). For Transportadora de Gas del Sur SA B the two are 883.50 ARS per share apart. That gap is exactly why we show both numbers side by side.
How much is Transportadora de Gas del Sur SA B worth?
The market values Transportadora de Gas del Sur SA B at about 6.7T ARS (market capitalisation, as of Sep 24, 2026). Per share that is 8,835 ARS; our models calculate a fair value of 9,719 ARS per share.
What do the bullish and bearish scenarios say about TGSU2?
Our models span a range for Transportadora de Gas del Sur SA B: cautious scenario 4,702 ARS, base 9,719 ARS, optimistic 14,864 ARS per share (as of Sep 24, 2026, price 8,835 ARS). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TGSU2?
Transportadora de Gas del Sur SA B trades at a price-to-earnings ratio of 13.8 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 9,719 ARS is built from several models across several years. Other multiples: P/B 2.1, P/S 3.6, EV/EBITDA 7.2.
How solid is the balance sheet of Transportadora de Gas del Sur SA B (TGSU2)?
Balance-sheet figures for Transportadora de Gas del Sur SA B (as of Sep 24, 2026): return on equity 16.0%, debt of 0.47 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is TGSU2 from its 52-week high?
Transportadora de Gas del Sur SA B trades at 8,835 ARS, about 14% below its 52-week high of 10,320 ARS and 40% above the low of 6,325 ARS (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 9,719 ARS is for.
Which stocks are comparable to Transportadora de Gas del Sur SA B?
From the same area (Energy) we also value Saudi Arabian Oil Company, Exxon Mobil Corporation, Chevron Corporation, PetroChina Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Transportadora de Gas del Sur SA B stock attractive at the current price?
The data as of Sep 24, 2026: price 8,835 ARS, calculated fair value 9,719 ARS (+10%), Quality Score 53/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of TGSU2 calculated?
We run Transportadora de Gas del Sur SA B through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 9,719 ARS, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Transportadora de Gas del Sur SA B currently trades 10 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Transportadora de Gas del Sur SA B (TGSU2)?
The closing price on Sep 23, 2026 was 8,835 ARS. Our model-based fair value is 9,719 ARS, about +10% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Transportadora de Gas del Sur SA B right now?
The model range is unusually wide (4,702 ARS to 14,864 ARS). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Key figures of Transportadora de Gas del Sur SA B
How large is the market capitalisation of Transportadora de Gas del Sur SA B (TGSU2)?
The market capitalisation of Transportadora de Gas del Sur SA B is 6.7T ARS (≈ $4.7B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Transportadora de Gas del Sur SA B (TGSU2)?
The price-to-sales ratio of Transportadora de Gas del Sur SA B is 3.41 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Transportadora de Gas del Sur SA B (TGSU2)?
Earnings per share at Transportadora de Gas del Sur SA B are 689.15 ARS (price ÷ EPS = P/E 13.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Transportadora de Gas del Sur SA B (TGSU2)?
The dividend yield of Transportadora de Gas del Sur SA B is 3.2% (payout 41.4%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Transportadora de Gas del Sur SA B (TGSU2)?
The net margin of Transportadora de Gas del Sur SA B is 24.7% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Transportadora de Gas del Sur SA B (TGSU2)?
The return on equity (ROE) of Transportadora de Gas del Sur SA B is 16.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Transportadora de Gas del Sur SA B (TGSU2)?
On an EBIT basis the return on assets of Transportadora de Gas del Sur SA B is 20.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Transportadora de Gas del Sur SA B (TGSU2)?
The operating margin of Transportadora de Gas del Sur SA B is 40.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Transportadora de Gas del Sur SA B (TGSU2)?
Revenue at Transportadora de Gas del Sur SA B is growing +15.4% versus a year earlier (3y avg +16.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Transportadora de Gas del Sur SA B (TGSU2)?
Earnings per share at Transportadora de Gas del Sur SA B are growing +148% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Transportadora de Gas del Sur SA B (TGSU2) carry?
The net debt of Transportadora de Gas del Sur SA B is 688B ARS (fiscal year 2025, ≈ 3.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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